New York prices:$1 in 1954→$10.36 in 2020

Inflation in New York

Prices in New York, 1954-2020 ($1)

According to the U.S. Bureau of Labor Statistics, prices in New York were
935.71% higher
in 2020 versus 1954 (a $9.36 difference in value).

Between 1954 and 2020:New York experienced an average inflation rate of 3.61% per year.
This rate of change indicates significant inflation.
In other words, $1 in New York in the year 1954 would cost $10.36 in 2020 for an equivalent purchase.
Compared to the overall inflation rate of 3.49% during this same period, inflation in New York was
higher.

In the year 1954: Pricing changed by 0.62%, which is
below the average yearly
change in New York during the 1954-2020 time period.
Compared to inflation for all items in 1954 (0.34%), inflation in New York was
higher.

Price Inflation in New York since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing:
1919 (22.12%),
1918 (22.09%),
and 1920 (17.24%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for New York:

How to calculate the inflation rate for New York, 1954-2020

Then plug in historical CPI values from above. The CPI for New York was 27.208 in the year 1954 and 281.799 in 2020:

281.799 / 27.208* $1 = $10.36

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 1954 has the same "purchasing power" as $10.36 in 2020 (in the CPI category of New York).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New York in 1914. In addition to New York, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.